Oikocredit USA, the United States arm of Dutch cooperative investor Oikocredit, announced today that it has named Ms Sharlene Brown as its new national director. Ms Brown’s experience includes approximately ten years working in social investing and microfinance during which she worked with the following three US-based firms: Domini Social Investments, an investment firm with a focus on socially and environmentally responsible investments; US SIF, a membership association for social investors formerly known as the Social Investment Forum (SIF); and the Grameen Foundation, a microfinance-oriented nonprofit. Ms Brown also served as a member of Oikocredit USA’s Advisory Board during the last year.
Ms Brown and Mr Terry Provance, Oikocredit USA’s current Executive Director, will work together over the next year to execute a transition of leadership as the organization prepares for Mr Provance’s retirement. During his 11 years at Oikocredit, Mr Provance has grown the US investor portion of Oikocredit’s portfolio to USD 42 million today, from USD 13 million in 2001. As of year-end 2010, Oikocredit reported USD 900 million in total assets.
By Carol Kim, Research Associate
About Oikocredit: Oikocredit is a Dutch cooperative investment fund comprised of church groups, cooperatives and individual investors. Established in 1975, it works in 70 countries, investing mainly in microfinance institutions (MFIs), as well as trade cooperatives, fair trade organizations and small and medium-sized enterprises (SMEs) in the developing world. As of year-end 2010, Oikocredit reported USD 900 million in total assets and 863 project partners, of which 596 were MFIs.
About Domini Social Investments: Domini Social Investments is an investment firm in the US with a focus on socially and environmentally responsible investments. The firm manages some USD 2 billion in investor capital and invests it in community economic development through investment vehicles including: the Domini Social Equity Fund, the Domini Social Bond Fund and the Domini Money Market Account. Domini Social Investments also offers investment consultancy and portfolio management assistance. The firm was founded by CEO Amy Domini in 1989 to serve the growing number of investors unwilling to invest in companies involved in certain sectors such as tobacco and weapons.
About US SIF: US SIF, formerly the Social Investment Forum (SIF), is the US membership association for professionals and organizations engaged in socially responsible investing. US SIF and its members advance investment practices that consider environmental, social and corporate governance criteria with the aim of generating competitive long-term financial returns and positive societal impact. Social investing focuses on companies operating in line with accepted social values that relate to serving larger numbers of poor and excluded people.
About Grameen Foundation: The Grameen Foundation, a nonprofit based in Washington, DC, aims to help microfinance institutions throughout the world replicate the Grameen Bank’s joint-liability lending model. It provides financial, technological and managerial support to provide new business opportunities and telecommunication services for poor people in rural areas. Though the Grameen Foundation is independent of the Grameen Bank, Muhammad Yunus, the founder of the Grameen Bank, serves on the foundation’s Board of Directors. Grameen Foundation reported total assets of USD 33.1 million as of March 31, 2010.
Sources and Additional Resources:
Press release submitted by Oikocredit to MicroCapital, July 2011
MicroCapital.org: “MICROCAPITAL BRIEF: Rosalind Copisarow Starts Today as New Managing Director of Dutch Microfinance Investor Oikocredit”, July 1, 2011, https://www.microcapital.org/microcapital-brief-rosalind-copisarow-starts-today-as-new-managing-director-of-dutch-microfinance-investor-oikocredit/
MicroCapital’s Universe Profile: Oikocredit, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Oikocredit
MicroCapital’s Universe Profile: Domini Social Investments, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Domini+Social+Investments
MicroCapital’s Universe Profile: US Social Investment Forum (US SIF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=US+Social+Investment+Forum
MicroCapital’s Universe Profile: Grameen Foundation, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Foundation
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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